Arab Today, arab today spain public debt ratio will rise to 100 in 2014
Last Updated : GMT 16:46:11
Arab Today, arab today
Arab Today, arab today

Unemployment to jump and tax revenues to plunge

Spain public debt ratio will rise to 100% in 2014

Arab Today, arab today

Arab Today, arab today Spain public debt ratio will rise to 100% in 2014

People take part in demonstration protesting against budget cuts in Madrid
Madrid - Arab Today

People take part in demonstration protesting against budget cuts in Madrid Spain\'s public debt will rise next year to 99.8 percent of output after hitting 94.2 percent at the end of this year, higher than previously forecast, according to details of the government\'s 2014 budget published Monday. Spain\'s ratio of debt to gross domestic product (GDP) has soared since 2008, when the end of a decade-long property boom triggered an economic slump that caused unemployment to jump and tax revenues to plunge.
It rose to 85.9 percent of GDP at the end of 2012 from 68.5 percent of output at the end of 2011.
The government had forecast in its 2013 budget that the debt-to-GDP ratio would stand at 90.5 percent at the end of this year.
The Spanish Treasury will need to issue 243.9 billion euros ($330 billion) in debt next year to cover maturing debts and new financing needs, according to the draft budget presented in parliament.
The government draft budget for 2014 which was approved Friday at a cabinet meeting includes further unpopular austerity measures for pensioners and public workers even as it slightly improved the outlook for jobs and economic growth.
It forecasts the jobless rate will dip under 26 percent while economic growth will reach 0.7 percent next year.
For 2013, the government forecasts the economy will shrink by 1.3 percent while the jobless rate will end the year at 26.6 percent.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain public debt ratio will rise to 100 in 2014 Arab Today, arab today spain public debt ratio will rise to 100 in 2014

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today spain public debt ratio will rise to 100 in 2014 Arab Today, arab today spain public debt ratio will rise to 100 in 2014

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday